Welcome to the trust deed forum Flash1.

If you take a look at the "life after a trust deed" page (link on the main menu) you'll find some suggestions that may be helpful for improving your credit record.

In basic terms, you need to ensure your credit file has been updated appropriately by your creditors and also that you are making some positive use of credit facilities now.

Wondered if anyone has any guidance for me.

My wife and I took out a trust deed four years ago and due to a change of financial circumstances we paid off all debts in full. Having checked our credit report via a well known credit agency, all our debts are shown as satisfied and trust deed complete . However, we have two concerns:
i) The credit agency holds our history on file for six years for anyone to refer to.
ii) We've been advised the only way to now improve our credit rating is by applying for credit and being seen to use credit and repay in line with credit agreements.

The problem we have is that neither my wife or I wish to take on any credit but do want comfort in knowing that our credit rating is seen as good should we ever want to obtain credit in the years ahead but if because of (i) above we have credit refused or by (ii)being unable to build up a credit score to support any application for credit then how can we improve our situation?

Any advice would be appreciated as we simply want to move on.

As TDA has said, read the section at the side of the page, it's full of info and tips.

Things like apply for a credit card, keep the limit low, but a few things with it every month, but pay it off in full when the bill comes in. It shows you can handle your credit and increases your score. Mind you, if your report is showing all clear, I shouldn't think you'll have much problems in the future. But depending on what you apply for later on, different companies use different credit agencies, there are 3 main ones I think: Equifax, Experian and another I can't remember.

Hi Flash1.

Vanquis is a credit card that advertises itself specifically as being a tool to rebuild a credit record. The interest rate is horrible so it should only be used for purchases that can be repaid in full when the bill arrives.

Someone recently mentioned some kind of "creditbuilder" card but I cannot remember the name and cannot locate the thread on the forum. Hopefully someone will be able to help out by supplying the details again...

Hi

I have a PAYG credit card called cashplus, which you can pre-load a number of ways. It's a Mastercard but you've no 'credit' because its you that funds it. Theres a £4.95 fee each month. Now the company will see this as a loan repayment over a year and report it as such. It's a scheme thats called CREDITBUILDER, and if you go to the cashplus website you'll get more info, but it's maybe something you could consider. The cards great, works as a credit card and is good to have as back up. Maybe something that would help [8D].

JS

Lol Ive just seen TDA's post above, yes this is creditbuilder!!!

Yeah, I got one last year, so the "loan" will be paid off about the same time I am due to be discharged. Trying to get a head start on the rebuilding process.

I knew it was called something like that!!

Thanks for advice, I'll take a look at these options.